21 September 2007 17:18 [Source: ICIS news]
LONDON (ICIS news)--European open spec naphtha reached a new record high on Friday, as Dow sold a 12,500 tonne cargo to Vitol at $720/tonne (€511/tonne) CIF (cost, insurance and freight) NWE (northwest Europe). ?xml:namespace>
This exceeds the previous record high at $712/tonne CIF NWE recorded on 14 May this year.
Traders and brokers said that new record highs were not a big surprise given the rising crude oil markets both sides of the ?xml:namespace>
Sources agreed that there was strong support from the gasoline sector, which is currently exporting material to the
The expectation of a number crackers to return online has also contributed to more demand from the petrochemical sector.
($1 = €0.71)
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